NFTs create digital ownership based on scarcity and exclusion, which do not align with Minecraft values, the creator said
Image: Courtesy Minecraft
Swedish developer Mojang Studios, the creator of the well-known game Minecraft, and a Microsoft subsidiary, announced on Wednesday that it would be banning the inclusion of non-fungible tokens, or NFTs, and blockchain technology in general from its famous game.
Citing its justification for the choice, Mojang said: "Like any digital file, NFTs can be copied, moved, or even deleted.
Additionally, NFTs and blockchain have also been associated with price speculation. These uses of NFTs and other blockchain technologies create digital ownership based on scarcity and exclusion, which does not align with Minecraft's values of creative inclusion and playing together."
The unreliability of third-party NFTs, the technology's general reliance on asset managers who might abruptly disappear, taking a user's NFTs with them, and NFTs' inclination to participate in pump-and-dump schemes are other reasons Mojang stated while putting up its case against blockchain and NFTs.
The game studio also blasted NFTs' "speculative pricing" and "investment mentality," which detract from the gaming experience and support profit-seeking at the expense of the games' long-term playability. It also cited rug-pulls involving a few third-party NFT integrations and NFT wash trading or deceptive pricing manipulation to justify the prohibition.